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Jan 4, 2013
01/13
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obama runs the justice department. they have successfully prosecuted nobody in the financial crisis. zero, sill much. nobody. >> you said sarbains oxley should have been able to get a lot of these guys. >> yeah. so the hurdle for finding people guilty of fraud or misdoings in financial markets is so high, people give you, well, i didn't know know. look at karzai. >> berkshire came out with an internal report which they published that laid all this out. this is here on a silver platter, we think this is not right and the s.e.c. says, well, maybe this is -- >> but you're right. it's thinking they could win. >> you'd have to go and look at lawyers and say here is this statute. can this apply here? that's the problem with the letter of the law and the spirit of the law. the spirit of the law, to me, looks like it was violated in this case. >> berkshire's own bylaws were violated. >> and that is why i thought the s.e.c. could bridge a case, but you get a jury on a juvenlg and was he stirred that could get this. and then som
obama runs the justice department. they have successfully prosecuted nobody in the financial crisis. zero, sill much. nobody. >> you said sarbains oxley should have been able to get a lot of these guys. >> yeah. so the hurdle for finding people guilty of fraud or misdoings in financial markets is so high, people give you, well, i didn't know know. look at karzai. >> berkshire came out with an internal report which they published that laid all this out. this is here on a silver...
365
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Jan 10, 2013
01/13
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but, you know, president obama wants one of his in that job. when he looks at the economic issues that are most important and most potentially dangerous for him over the next couple of years, it's how do you deal with congress? how do you deal with long-term fiscal challenges, how do you deal with the debt ceiling, entitlement reform, all of the things that jack lew has deep experience in. and i think that's the economic issue that he thinks is number one of his plate and he chose somebody who he trufts who he thinks can negotiate on his behalf and i think that's the issue. sometimes when presidents pick people from the business community, the business community has an ambassador but is not an insider in the administration. we saw that in the bush administration early on. >> my next question, is there a chance for somebody of the business community talking about coming in from business community or is it difficult to get another member to join when you give away the big title? >> i think when you give away the big title, the biggest names are n
but, you know, president obama wants one of his in that job. when he looks at the economic issues that are most important and most potentially dangerous for him over the next couple of years, it's how do you deal with congress? how do you deal with long-term fiscal challenges, how do you deal with the debt ceiling, entitlement reform, all of the things that jack lew has deep experience in. and i think that's the economic issue that he thinks is number one of his plate and he chose somebody who...
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Jan 8, 2013
01/13
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are growing, and we know, you know, obama care, not only is medicare already a huge entitlement, obama care just doubled down on all of our entitlements. people voted for it. and people voted for government. you're running the cato institute right now. what's 2014 going to look like? and what can cato institute do to try to, i don't know, orchestrate some type of a comeback for your side? >> we're working on that very hard. and the idea we have to do is convince people that the consequences of these policies are incredibly destructive, particularly for their children and grandchildren. >> totally fell on deaf ears in the past election. >> but we have to keep fighting that fight. unfortunately it's going to be a hard message to get through. because i don't think we're going to fall off the cliff. >> i would love -- >> look, let's say last night maybe i wanted notre dame to win because of -- for whatever reasons just maybe i shouldn't have. because maybe it wasn't very realistic. but if i could, take the side of the team saying, we're going to nail 10% of the people and we're going to pr
are growing, and we know, you know, obama care, not only is medicare already a huge entitlement, obama care just doubled down on all of our entitlements. people voted for it. and people voted for government. you're running the cato institute right now. what's 2014 going to look like? and what can cato institute do to try to, i don't know, orchestrate some type of a comeback for your side? >> we're working on that very hard. and the idea we have to do is convince people that the...
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Jan 9, 2013
01/13
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bloomberg says vote for obama because of sandy. at this point, it's hard to -- i can't counter every -- it's almost like superstition, almost like throwing salt over your shoulder. let's go to number 6. number 6 on your list is china. you think the new administration is going to root out corruption. >> root out is a little strong. nothat would be a surprise. >> root out is probably a little strong. corruption is a problem there. i think they're going to deal with corruption because there's more transparency in china than there's ever been before. >> more pressure. >> a fair amount of pressure. >> that changes then what? in terms of the market. >> the chinese economy has done all righer last three years but the market has not. the surprise in that one is the chinese market, the shares appreciate 20%, that's the surprise. >> to politics, washington, number 5, surprise. you say the republicans will reverse their position and make a major effort to become leaders on immigration policy. explain. >> okay. the hispanic population of this
bloomberg says vote for obama because of sandy. at this point, it's hard to -- i can't counter every -- it's almost like superstition, almost like throwing salt over your shoulder. let's go to number 6. number 6 on your list is china. you think the new administration is going to root out corruption. >> root out is a little strong. nothat would be a surprise. >> root out is probably a little strong. corruption is a problem there. i think they're going to deal with corruption because...
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Jan 7, 2013
01/13
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you had the obama administration in its own way trying to reach out. but in the end, most executives i talked to said the obama administration just paid it lip service. they did these phone calls. they had us up, and then nothing happened. and virtually everybody, no matter what party you were on, or part of, seemed to be ultimately disappointed. >> yes. i think we're -- i don't think you can talk to washington. i'm convinced now that neither party is listening. they're listening to themselves. and i really think what the business community has to do. in fact anybody who wants to see the right thing being done is just have to start talking to the general public about how serious this is and have them put pressure on washington, because no one else can do so. >> we talked to people like david walker who say that education is key. just as you're talking about. and really lay it out to people. but then we also see all those polls that show while people don't want their taxes to go up, they don't mind taxes going up on someone else and they definitely don'
you had the obama administration in its own way trying to reach out. but in the end, most executives i talked to said the obama administration just paid it lip service. they did these phone calls. they had us up, and then nothing happened. and virtually everybody, no matter what party you were on, or part of, seemed to be ultimately disappointed. >> yes. i think we're -- i don't think you can talk to washington. i'm convinced now that neither party is listening. they're listening to...
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Jan 11, 2013
01/13
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because neither party wanted to defend it, the temporary payroll tax cut enacted under president obama died at the end of 2012, which means that everyone in the country will see a bigger tax bite out of their pay check this year. so when you get your first check of the year, look at the amount charged under fica. you're going to be paying more than you did back in december. how big of a bite is it? for many middle-class workers it will work out to a trip to the grocery store or a tank of gas less every two weeks this year. here are the numbers. for a single person making $60,000 per year who is paid biweekly gross income in a pay check is $2,307.69. in december, you'd have had to subtract from that federal withholding taxes of $403.56, fica taxes were $96.93. medicare was $33.46. state withholding for a person like me who lives in maryland was $177.35. so that gives the taxpayer net pay in one check in december of $1,596.39. so, what happens this month? gross pay is the same, as are the medicare and state taxes. but fica taxes go up sharply. to $143.08. that's $46.15 in a bite from the
because neither party wanted to defend it, the temporary payroll tax cut enacted under president obama died at the end of 2012, which means that everyone in the country will see a bigger tax bite out of their pay check this year. so when you get your first check of the year, look at the amount charged under fica. you're going to be paying more than you did back in december. how big of a bite is it? for many middle-class workers it will work out to a trip to the grocery store or a tank of gas...